“These measures are welcome as far they go but to be effective they need to be accompanied by a cultural change in banking. Many banks today are showing insufficient flexibility and sensitivity towards companies that are facing challenging circumstances. A serious strategy for recovery must involve the banks actively supporting existing companies and backing others, such as private equity investors, who would like to come to the rescue of ailing and failing firms.”
For further information please contact:
Tim Hames, BVCA +44 (0)7721 508082
Notes to Editors
1. The BVCA - The British Private Equity and Venture Capital Association is the industry body for the UK private equity and venture capital industry. The BVCA has over 400 member firms, representing the overwhelming number of UK-based private equity and venture capital firms and their advisers.
